DAX: Holding today's low can lead to 16,500
DAX is trading inside multiple short and long term Channel Up patterns, an indication of a strong bullish trend, showcased by the green 1D technicals (RSI = 59.394, MACD = 107.100, ADX = 32.591). As long as the 1D RSI stays over the MA line, we remain bullish (TP = 16,500). If it breaks under it, we will target first the dashed Channel bottom (TP1 = 16,000) and after a 1D candle close under it, extend to S1 (TP2 = 15,635).
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